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Colostrum Market size was valued at USD 2.87 billion in 2023 and is projected to exceed USD 8 billion by the end of 2036, expanding at over 8.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of colostrum is evaluated at USD 3.06 billion.
The growth of the market can be attributed to the growing health awareness of consumers, increasing demand for fortified foods and supplements around the world, and rising usage of colostrum in cosmetic industry. The market for health and wellness food was calculated to generate a revenue of more than USD 766 billion in 2019. This amount rose up to approximately USD 790 billion in 2020. Furthermore, fortification of colostrum in infant formulas and probiotic yogurt is also expected to drive market growth in the upcoming years. In addition, escalating trend for sports and fitness coupled with increase in disposable income of people is also predicted to offer ample growth opportunities to the colostrum market in the near future.
Growth Drivers
Increasing Health Awareness of Consumers Globally
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
8.2% |
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Base Year Market Size (2023) |
USD 2.87 billion |
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Forecast Year Market Size (2036) |
USD 8 billion |
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Regional Scope |
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The colostrum market is segmented by product type into whole, skimmed and specialty colostrum powder, out of which, the segment for whole colostrum powder is anticipated to hold the largest share in the market on account of the fact that it provides better shelf life when used for the formulation of functional foods. Additionally, increasing use of whole colostrum for the production of beverages, snacks and nutritional bars is also assessed to boost the growth of this segment in the coming years. Moreover, on the basis of application, the cosmetics segment is evaluated to witness the highest growth during the forecast period owing to the benefits of colostrum such as skin moisturization, slowing down of ageing process, protection against bacteria and aid in skin irritation.
Our in-depth analysis of the global colostrum market includes the following segments:
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Product |
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Application |
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Form |
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On the basis of geographical analysis, the colostrum market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the North America industry is estimated to hold largest revenue share by 2036, impelled by presence of health-conscious population in the region. Along with this, large concentration of cattle farming facilities in nations, namely India, New Zealand and China is also anticipated to fuel the growth of the market in this region. According to the Stats NZ agency, the total dairy cattle numbers in New Zealand increased by 82% nationally between 1990 and 2019. In 2019, 6.3 million cattle were farmed in the country.
Author Credits: Parul Atri
Copyright © 2024 Research Nester. All Rights Reserved
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